Articles for Debt Distress

Pacific Island nations owe 'astronomical' debts to China. Can they repay?
4 months, 3 weeks ago

Pacific Island nations owe 'astronomical' debts to China. Can they repay?

ABC  

It wasn't long ago that rain would stop Martha Kapalu from travelling to the southern reaches of her island in Vanuatu. A $30 million budget lifeline from Australia has also helped by funding public services, giving Tonga's government financial breathing space to make debt repayments to China, Mr Duke says. Mr Duke said the money Pacific Island nations owed to …

China Infrastructure Bank Economic Public Services Loan Duke
Key supporter
6 months, 3 weeks ago

Key supporter

China Daily  

LI MIN/CHINA DAILY Belt and Road Initiative can facilitate the implementation of the African Continental Free Trade Agreement While it is home to more than 16 percent of the global population, Africa has a small share of global trade and GDP, 2.1 percent and 2.9 percent respectively. Key stakeholders, especially the African Union and its member states, are giving attention …

China Africa Infrastructure Trade Development Debt Road
Improving funding in Africa
1 year, 2 months ago

Improving funding in Africa

China Daily  

Adding equity and quasi-equity financing mechanisms can advance BRI's objectives in the large, populous but poorest continent and, possibly, other continents too Extreme poverty is afflicting hundreds of millions all over the African continent. China's BRI directly addresses the yawning physical infrastructural gap in Africa and is already making a big impact on the continent. The African Development Bank estimates …

China Africa Infrastructure Equity Debt Countries African
White Paper of Congress Govt Blames Previous BJP Regime's 'Fiscal Mismanagement' for Himachal's Debt Distress
1 year, 3 months ago

White Paper of Congress Govt Blames Previous BJP Regime's 'Fiscal Mismanagement' for Himachal's Debt Distress

News 18  

With the Congress government in Himachal Pradesh presenting a white paper on the state’s finances, an acrimonious exchange was witnessed between opposition and treasury benches in the assembly after the report indicated a grim fiscal health with the state’s financial liabilities mounting to Rs 92,774 crore. Agnihotri read the report amid a charged atmosphere, while blaming the previous BJP regime …

Congress Loan State Bjp Crore Himachal White Paper
As leaders convene, the UN pushes toward its crucial global goals. But progress is lagging
1 year, 3 months ago

As leaders convene, the UN pushes toward its crucial global goals. But progress is lagging

Associated Press  

UNITED NATIONS — The commitments were far-reaching and ambitious. He told leaders in the crowded General Assembly hall they made “a promise to build a world of health, progress and opportunity for all — a promise to leave no one behind, and a promise to pay for it.” General Assembly President Dennis Francis told the assembled leaders that the fact …

Action Debt Developing Developing Countries Leaders Goals Countries
G20 Summit: ‘We should address the question of debt distress,’ says Sitharaman
1 year, 3 months ago

G20 Summit: ‘We should address the question of debt distress,’ says Sitharaman

Live Mint  

As India is holding its presidency for the G20 Summit, Union Finance Minister Nirmala Sitharaman said that India given the consideration of things and developments across the world, addressing the question of debt distress is a must. Sitharaman said, “Given the consideration of things and the developments across the world, we thought we should address this question of debt distress. …

Finance India Sitharaman Debt Distress G20 Summit World Address
Reducing debt during crises through multilateral groupings
1 year, 4 months ago

Reducing debt during crises through multilateral groupings

Hindustan Times  

The ongoing global climate crisis has deepened the inequalities between countries, moving the world farther away from achieving the Sustainable Development Goal 10 of reduced inequality. The emission of greenhouse gases by high-income, Global North countries results in costly natural disasters around the world; this pushes lower-income, Global South countries into debt distress, with their scarce resources and debt repayments …

Global Climate Debt Global South Crisis Countries Debt Repayment
Data | Climate finance adds another layer of inequity to climate change
1 year, 4 months ago

Data | Climate finance adds another layer of inequity to climate change

The Hindu  

In the last few years, climate justice activists have been campaigning for the world’s economically developed countries to raise their investments in climate adaptation and mitigation, including paying for other countries’ abilities to deal with the effects of climate change. Countries in Sub-Saharan Africa, Latin America, and South Asia have historically contributed the least to global warming; yet, they are …

Global Climate Change Europe Climate Data Asia South Asia
Along with Japan and India, China can join debt relief effort for Sri Lanka: Nirmala Sitharaman
1 year, 4 months ago

Along with Japan and India, China can join debt relief effort for Sri Lanka: Nirmala Sitharaman

The Hindu  

As a large creditor to Sri Lanka, China is welcome to join the effort steered by Japan, India and France to help the island nation cope with its debt distress, Finance Minister Nirmala Sitharaman said on Saturday. Terming multilateral development banks’ reforms and debt-relief measures for many stressed economies as the top two finance track priorities for India during its …

China Sri Lanka Debt Sitharaman Lanka Sri Debt Distress
Multilateral institutional forums: Too many doing too little
1 year, 5 months ago

Multilateral institutional forums: Too many doing too little

Hindustan Times  

The nature of the globalised world necessitates all countries to trade off between being ‘confined’ sovereignty and acting unilaterally. The strategy of multilateralism maintains and strengthens rules-based international order promoting inclusivity of multiple actors, economic development, global health, human rights, international security, and climate change mitigation. It was clear after the horrors of the World War II that multilateralism was …

Global India International Security Singapore China World
Only 12% of Sustainable Development Goals targets are on track: Haoliang Xu, Assistant Secretary General of UNDP
1 year, 6 months ago

Only 12% of Sustainable Development Goals targets are on track: Haoliang Xu, Assistant Secretary General of UNDP

The Hindu  

Most of the Sustainable Development Goals are not on track, said a senior official of the UN Development Programme here on Wednesday. Speaking to The Hindu in an exclusive interview Haoliang Xu, Assistant Secretary General of UNDP, who represented the organisation at the G20 Development Ministers’ Meeting in Varanasi said access to concrete measures like finance and technology should be …

Global India Development Indian Debt Global South Varanasi
India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman
1 year, 8 months ago

India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman has said India’s G20 presidency aims to develop a common framework for all countries to deal with risks associated with cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. She also said G20 is trying to bring together all countries to address debt distress in middle-income and low-income nations like Sri Lanka …

India Debt G20 Countries Sitharaman Presidency Debt Distress
Nirmala Sitharaman urges G20 to come together on debt distress of middle-income countries
1 year, 8 months ago

Nirmala Sitharaman urges G20 to come together on debt distress of middle-income countries

The Hindu  

Ahead of the G20 Finance Ministers and Central Bank Governors meeting on April 12 and 13, Finance Minister Nirmala Sitharaman expressed hope that the group could come together to address the debt distress of middle-income countries. While there could be “one or two” issues on which consensus is not possible, the Finance Minister said India’s presidency “is a great opportunity …

Finance India Trade Pakistan Debt Debt Restructuring Muslims
Debt load may pose threat to nations: PM
1 year, 9 months ago

Debt load may pose threat to nations: PM

Live Mint  

Prime Minister Narendra Modi cautioned on Friday that unsustainable debt levels posed a threat to the financial stability of nations and called upon G20 finance ministers and central bank governors to work towards restoring stability, confidence, and growth to the global economy. International Monetary Fund managing director Kristalina Georgieva said on Thursday that the IMF, World Bank and India’s G20 …

Global India China World Debt G20 Countries
‘Global economy in better place today than predicted’
1 year, 10 months ago

‘Global economy in better place today than predicted’

Live Mint  

New Delhi: War, debt and economics are set to dominate G20 leaders’ discussions over the next two days. US treasury secretary Janet Yellen on Thursday flagged the need for tackling challenges like the spill-over effects of macroeconomic tightening in major economies and debt distress in vulnerable countries like Zambia and Sri Lanka ahead of the crucial two-day meeting of finance …

Global India Ukraine Russia Sri Lanka Oil Debt
The G20 must help resolve debt crisis across the world
1 year, 10 months ago

The G20 must help resolve debt crisis across the world

Live Mint  

Debt distress is not merely a macroeconomic problem. As India has assumed the G20 presidency at an uncertain time for the global economy, addressing debt distress, initiating action and devising a coordinated framework for relief would be daunting endeavour.The G20 in 2020 launched a Common Framework which brought creditors such as China and India, along with the IMF, the Paris …

India China Relief Debt G20 Countries Need
After covid-19, now a pandemic of debt
1 year, 11 months ago

After covid-19, now a pandemic of debt

Live Mint  

The covid-19 pandemic increased low- and middle-income countries’ debt levels to a 50-year high. For low-income countries, the ratio of multilateral debt to total external debt has been around 36.5% over the past decade, compared to 8% for middle-income countries, which depend heavily on costlier private-sector financing. Before covid-19, the main body providing debt relief to low- and middle-income countries …

World Pandemic Bank Relief Developing Developing Countries Latin America
The world is looking at India as a destination for investment: Gita Gopinath
2 years ago

The world is looking at India as a destination for investment: Gita Gopinath

Live Mint  

While the IMF has forecast a lower growth rate for the global economy in 2023 compared with this fiscal, a positive trend for India is that countries that are looking to diversify their supply chains are looking at India as an option, said International Monetary Fund’s First Deputy Managing Director Gita Gopinath in an interview with Mint. In a wide-ranging …

Global India Growth China World Financial Investment
What’s Driving Laos’ Debt Crisis?
2 years, 1 month ago

What’s Driving Laos’ Debt Crisis?

The Diplomat  

After gambling with “high risk” levels of debt distress for more than a decade, Laos has fallen into a debt crisis. In Laos, economic growth – indispensable to offset rising debt levels and ensure debt sustainability – fell dramatically to around 5.5 percent in 2019 and 0.5 percent in 2020. Although the recent shocks have been pivotal in pushing Laos …

Growth China Development Pandemic Investment Economic Hydropower
China property sector distress deepens as second company runs into financial troubles
3 years, 2 months ago

China property sector distress deepens as second company runs into financial troubles

Firstpost  

Beijing, China: Another Chinese homebuilder has hit financial trouble after it missed payments on debt obligations, adding to worries over the country’s property sector as embattled giant China Evergrande teeters on the brink of collapse. The news comes as investors await news from Evergrande after it suspended trading of its shares Monday pending an announcement on a “major transaction”, with …

Debt Company Chinese Evergrande Sinic Fantasia China Property
Getting SDGs back on track: A conversation with UNDP’s Steiner
3 years, 6 months ago

Getting SDGs back on track: A conversation with UNDP’s Steiner

Al Jazeera  

When the world embarked on the United Nations Sustainable Development Goals back in 2015, there was an air of optimism as nations committed to hitting 169 targets by 2030. Warning that the world faces a development emergency, he says the Achilles heel of the global economic recovery is the growing number of countries facing vaccine disparity and debt distress. He …

Global Energy China Development Recovery Debt Developing Countries